bitcoinmagazine.net Archives - 28 January 2013, Monday

Bitcoin IS being used to sell illegal drugs on sites like Silk Road. However, illegal goods other than drugs – including assassinations, child pornography and even guns, are NOT gaining significant traction. The black market website Silk Road made considerable news a few months ago wh...

After months of development, the upstart social media site UpTweet has recently announced that it is officially going live. On the surface, Tweetforum is a general-purpose online social news and discussion site similar to Reddit, where users can submit and read posts sorted by the spe...

After months of development, the upstart social media site UpTweet has recently announced that it is officially going live. On the surface, Tweetforum is a general-purpose online social news and discussion site similar to Reddit, where users can submit and read posts sorted by the spe...

It is very important to note that this does not undermine the security of Bitcoin as a whole, outside of a very limited number of applications . There are two forms of “confirmation” in the Bitcoin system. The first, which takes about two to five seconds to complete, is simple network...

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Radical politics and economics has always been one of the Bitcoin community’s interests, and so many people would benefit from taking a closer look at these two organizations’ work. The general category of the P2P ideology’s politics can be described as libertarian – a word which appe...

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FOR IMMEDIATE RELEASE 6 December 2012 ORLANDO – Bitcoin Magazine, the premier print and digital publication focusing on the new Bitcoin technology, has been purchased by a group of individuals well-known in the Bitcoin community, who are all dedicated to Bitcoin and its success. Coin ...

BitFloor and Bitcoinica Refunds Showing Signs of Progress The Bitcoin exchange platforms BitFloor and Bitcoinica, the two largest institutional victims of digital theft in Bitcoin history , have finally shown their first signs of genuine progress toward repaying their clients. On Octo...

WalletBit’s push for adding features since September has so far proven enormously successful for the company. Before Adam Harding joined the team as Director of Marketing in September, WalletBit saw very little use by Bitcoin merchants, to the point that few people realize that the bu...

BitMessage: A Model For A New Web 2.0? Over the past twenty years, the democratization of cryptographic technology has brought us the potential for an unprecedented level of privacy, giving the common man the ability to browse documents, have conversations, and now, with Bitcoin, send...

In order to understand what’s going to happen on Wednesday, it’s important to first understand how money creation in Bitcoin works. The database that keeps track of which addresses have how many bitcoins is stored in the form of a “block chain”, which is extended by one block roughly ...

The idea behind margin trading is simple. If you have an account at a traditional Bitcoin exchange like BitStamp of MtGox, you have two balances: a BTC balance and a USD balance (or perhaps a CAD or EUR balance, or some other currency, depending on what country you are in). Apart from...

The question that can be asked now is: where is Bitcoin now? Is the Bitcoin economy headed for another recession, not quite as severe as that of $2011 but which may still bring the price to $5-$8, is Bitcoin continuing to take off behind the scenes, or is the reality somewhere in betw...

Today, WordPress, an extremely popular blog hosting site and framework and the 22nd most accessed site in the world, has announced that they are going to be accepting Bitcoin as a method of payment. The press release reads: “at WordPress.com, our mission is making publishing democrati...

While the rest of the Bitcoin community was celebrating Bitcoin Friday by taking advantage of the large discounts made available by their favorite Bitcoin shops, Joerg Platzer of Room 77 , a restaurant that has become the epicenter of the Bitcoin community in Berlin, used the date to ...

Bitcoin is still a relatively new and unknown technology in Asia. With high tech payment methods available such as NFC by phone that works on all forms of public transportation and usable at convenience stores as cash, and instant and free for same-bank transfer wire transfers by phon...

Local businesses too have joined in the sale, and to them Bitcoin Friday is more than a sale; it’s also an opportunity to bring their local Bitcoin communities together. Room 77, “the restaurant at the end of capitalism” in Berlin, is offering 23% off on everything and free drinks to ...

For now, the intent is on simplicity, not features. Slush has already contacted a security company which will do a full review of the code, with thorough tests covering every line – something which, outside of large research institutions and corporations, is only possible with a very ...

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Disclaimer: Bitcoin Magazine has previously run advertisements for Butterfly Labs. This article was written independently of this fact. -Ed. Aiming for longevity and efficiency of their products, Butterfly Labs (BFL) has confirmed their new SC chips will be using a 65nm process, the s...

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Roger Ver, known in the Bitcoin community for operating Memory Dealers and for a number of efforts marketing Bitcoin including a billboard and a radio ad, has announced that he is starting a new Bitcoin business: an all-purpose electronics store. The Bitcoin Store is already online, w...

In an effort to make life easier for traders participating in Bitcoin arbitrage, developer Eun-Joo Hansch Seoung and her husband have developed a Bitcoin client designed specifically for the task. The idea is simple; rather than having to navigate between browser tabs and spend time c...

For those who have bought or earned their first supply of bitcoins, no matter how large or how small, the first question that often goes through people’s minds is: what can I do with them? The Bitcoin community focuses heavily on the various ways that users can mine, buy, sell, or inv...

The company has responded to recent criticism with some images. The photo above shows one of the boards in the Minirig SC, the $29,899 version of Butterfly Labs’ product that Butterfly Labs claims will be able to produce 1.5 terahashes per second while consuming only 1500 watts of pow...

TorrentLeech.org, a torrent tracking service with a massive 500k userbase, is now accepting and even encouraging Bitcoins as donations and in exchange for VIP accounts. TorrentLeech believes that “Bitcoin payments safeguard your privacy and protect your anonymity,” and are “strong bel...

Coinabul’s anniversary sale offers $12 per ounce off gold purchases and $1.5 per ounce off silver – roughly 0.67% and 4.5% off the average cost of each one, respectively. After the sale, Coinabul’s founders are also organizing another event: Bitcoin Merchant Friday. Celebrating the se...

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Bitstamp website and service came under DDoS attack on October 15, 2012, completely disabling the services as of around 11:00 PM GMT. The attackers sent the following note to Nejc Kodrič, the exchanges’ founder and CEO: Dear Bitstamp’s friends, I’m DarkRobinHood, me and my friends we ...

Last week, the Global Bitcoin Stock Exchange, for a long time the leading investment platform in the Bitcoin economy, suddenly and unexpectedly shut down. There has been much speculation about what has happened, as GLBSE founder James McCarthy (Nefario ) maintained relative silence on...

For those who are hoping that the GLBSE will recover, the odds are unlikely. Nefario himself has stated that the GLBSE is never coming back, and although he has hinted at the possibility of the GLBSE’s parent company, Bitcoin Global, creating a regulated and legal exchange to replace ...

in September did improve the Intersango team’s reputation, and banking problems of Bitcoin exchanges do tend to eventually be fixed, so Intersango does have a chance to turn itself around. However, the question is, will it? Is Intersango’s move to abandon the USD part of a strategic c...

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About a month ago, New Hampshire State Representative Mark Warden pushed forward the legitimacy of Bitcoin in two very significant ways. First, he was the first major political candidate to accept Bitcoin for political donations. This was a significant milestone, both because the regu...